Verisk Partners with Carpe Data to Tackle Insurance Fraud Faster

Through the partnership, Verisk's ClaimSearch® and Carpe Data's insights are integrated, assisting insurers in promptly identifying fraud and optimizing claims processes.

Verisk, a worldwide supplier of data analytics and technology for insurers, has partnered with Carpe Data, a top supplier of next-generation data solutions for the insurance sector.

According to Insurance Edge, the collaboration gives insurers quicker access to fraud detection tools like Online Injury Alerts and Investigative Reports by integrating Carpe Data's injury claim insights directly into Verisk's ClaimSearch® platform.

By streamlining claims operations, the integration seeks to cut down on delays brought on by separate systems. Property and casualty claims specialists can swiftly spot possible fraud thanks to Carpe Data's insights, which save time and money while preserving dependable, consistent procedures for all claims.

Carpe Data's Online Injury Alerts, which offer insightful updates on open injury claims while removing unnecessary data to assist adjusters in concentrating on actual risks, are now available to insurers utilizing ClaimSearch.

Additionally, Investigative Reports with social connections, screenshots, and citations may be purchased with just one click, exported straight into current claim systems, and prepared for use in court. Additionally, Carpe Data's solutions promote equitable processing and cost control by ensuring repeatable, arms-length inspections across all claims.

According to Max Drucker, CEO of Carpe Data, IT teams are overburdened with integration backlogs that can last for months because many insurers struggle with a patchwork of fragmented systems. Verisk's ClaimSearch platform, the backbone of the claims ecosystem, allows insurers too quickly and confidently access advanced solutions like Carpe Data. Property and casualty claims professionals can more readily access and profit from Carpe Data's all-signal, no-noise insights thanks to their partnership with Verisk.

According to Jeff Ryan, chief product officer of Verisk's anti-fraud analytics division, external threats to insurance claims departments have never been more varied or complex, thus the company is concentrated on assisting clients in staying well ahead of new dangers. They are strengthening the ClaimSearch ecosystem by incorporating Carpe Data's creative ideas and using their combined skills to better protect our shared customers.

The integration, which combines cutting-edge data analytics with well-established claims platforms to increase efficiency and lower vulnerability to fraudulent behavior, reflects a rising trend in the insurance sector towards digital-first claims management.